Refer in technicals above to where the distributions were conducted, which part of the secular market cycle the stock is in, where red trend band was broken, where the black classical band was broken down as well and to backtest critically (Brown Circle) to give confirmation of a stock in cancer.
1st Additional Side Note: Hyflux issuing $300mil perpetual at 6% which will be increased to $500mil if it is oversubscribed makes Hyflux a clear short. Why did it not borrow cheaply from banks since current interest rate is much lower than that. Secondly, if interest rates rise, it would have to raise money at 8%-10% to attract the same batch of fools.
2nd Additional Side Note: The company is desperate to get money at all costs (6%). That is an initial sign of desperation, of how desperate the fundamentals are.